Section 7A in Foreign Exchange Management (Borrowing and Lending) Regulations, 2018
7A. [ Borrowing and lending by persons resident outside India. [Added by Notification No. G.S.R. 163(E), dated 26.2.2019 (w.e.f. 17.12.2018).]
- A person resident outside India may undertake repo or reverse repo transactions in Rupees to borrow or lend money, subject to such terms and conditions as may be specified by the Reserve Bank.Explanation. - Repo shall have the same meaning as defined in Section 45U (c) of RBI Act, 1934 Reverse Repo shall have the same meaning as defined in Section 45U (d) of RBI Act, 1934]
